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CNBC
Nov 29, 2012 3:00pm EST
, have ridden the train of dividend paying stocks. if we go over the cliff and dividend taxes -- >> not so much. well over 60% of mutual funds are held in qualified plans. >> that doesn't matter. >> it does matter. >> 40% of the investors are going to be subject to 43.4% dividend taxes. those shares go down in price, and it affecting people who have pension plans. >> maybe, but a lot of people like insiders and other types of long-term institutions are not going to sell their stock based on a 15% dividend tax rate. >> you don't think they're going to sell if dividend taxes go to 44%? >> i don't. i'm in the minority here. the stock market has done better when the dividend tax rate was considerably higher than it's been for the last ten years. >> but 44%, christian? >> well, it is certainly a lot. a lot of it is tax shelter. it's not going to hit everybody and have quite the impact everyone expects. >> ron and rick, we haven't forgotten about you guys. how do you play this while we go through this volatile period before the end of the year? >> i think the market's finished disco
CNBC
Nov 26, 2012 3:00pm EST
the weekend when some republicans again repeated their openness to being willing to raise taxes, which is something that is violated republican orthodoxy. here is jay carney just a few minutes ago in reaction to those comments. >> some of the comments you mentioned are welcome. and they represent what we hope is a difference in tone and approach to these problems and a recognition that a balanced approach to deficit reduction is the right approach. it's the one most beneficial for our economy. >> reporter: the president's trying to take advantage of that different tone. he talked to speaker boehner over the weekend by telephone. and today you've had two business leaders, john engler, tom donahue, in to meet with senior white house officials. they're trying to keep this going. aides on capitol hill tell me no substantive progress in negotiations just yet. they're just now getting back to work after thanksgiving. >> how does that make you feel about the market? does it make you feel like they have more kum-bi-ya going on in washington, d.c.? does it make you more willing to invest
CNBC
Nov 27, 2012 3:00pm EST
portfolio. >> you're not worried about impact that the fiscal cliff could have on the tax treatment of dividends out there? you get all these companies imposing early dividends, special dividends to try and slip it in before the end of the year. yet, you're still buying high yield right now. >> that's right. the reason i'm not worried is the high yield side of our strategy is preferreds, high yield bonds, mortgage-backed securities. those are areas that don't have the preferential treatment on the income stream right now. it does include the dividends on the common stocks that have the qualified dividend preferable tax treatment. the areas we're investing in high yield, in fact, if the taxes on dividend paying stocks goes up on a relative basis, they look even more attractive on a comparable basis. >> steven, what are you guys doing on the floor right now? there are an awful lot of guys who have been skeptical on the rallies recently. are you among them? >> i think long-term david is right. but right now, there's going to be a lot of bumps in the road. you can play both sides. where wa
CNBC
Nov 21, 2012 3:00pm EST
clarity. great yields out there. >> does that change if dividend taxes go much higher as it relates to the fiscal cliff? does the reason to own dividend payers go away? >> i think there will be a repricing of some of that risk, frankly. a lot of it depends on the tone coming out of d.c. there's not going to be a grand bargain this year. i think it's the tone and the message that we'll hear in the next couple weeks. >> meantime michelle, another area you cover carefully, the debt crisis in europe and whether or not greek gets this next trun j. >> headline, greece still needs money. they still haven't gotten it. the hope is they may get it on monday. that could be a potential destabilizing situation, but the bottom line is the only people they really owe the money to right now is the ecb. it's probably going get washed through. it's going to be a lot of drama, but you haven't seen the u.s. markets trade so much on it. we'd have to see them leaving the euro to get an impact. i'm not sure it would be that big an impact. >> you agree, rick santelli? >> i think greece is the canary in the coal m
CNBC
Nov 28, 2012 3:00pm EST
the tax man comes based on the unknowns of the fiscal cliff. >> would you buy gold here, michael? >> no, no. i'm going wait for it to wash out a little more. then i'm going add to my positions. i have a -- >> you don't weigh gold outright. >> you have to own some gold. qe-4 is coming. no doubt about it. they're already doing $40 billion per month. it's going to be $85 billion of unsterilized counterfeiting per month starting january 1. how do you abandon gold in that premise? >> that's exactly right. we're playing it a little bit differently. we like some of the gold-related companies. >> the miners have gotten beaten up. they got beat up much worse than the actual metals. >> there's cost and exploration you have to factor in. >> are those your best ideas? >> no, actually. i think you can still -- i'm half if cash. i think you can look for areas to enter in o short position on lockheed martin. >> defense stocks because of the fiscal cliff. >> yes, but once that gets solved, i think you have a huge rally in early 2013. then you're left with the real facts, that we're massively acc
CNBC
Nov 23, 2012 12:00pm EST
comment. i don't think we have enough info. trying to tack the reform or race taxes, but if you look at the cac, for example, they've had a huge week. france was downgraded and did lose their aaa, at least from the moody's vantage point. never before has the rally made 16 1/2% look so cheap, but that last one is an interesting story. you know, one of the things we were supposed to be potentially on this fix and bail was let's try to retire some of that paper, but investors are smart. this is the problem with these programs. they purchased it, and they're probably made the price too expensive. that looks like that's off the table as well. >> i know we have quinn back, so let me pose this question to. a lot of the rally we have seen this week is built on hope as opposed to hard facts. do you feel between now and the end of the year is that the market might react badly to any bad news? >> i think so. i think we have seen a rally that just came from an oversold, you know, very, very sharp decline. we had the qe-3 sell-off, the sell-off after the election. we've gotten half of that back.
CNBC
Nov 27, 2012 4:00pm EST
higher taxes and cutting spending? >> i want to touch on something that liz just said. i have tried to get her to play along with this game. >> i gave up long ago. >> she always resists me when i try to pin her down on the number. i guess she's smart. as you mentioned, a fellow from morgan stanley coming out saying, look, i blew it. it's a pain for me. i don't want to do this. i think what they're banking on is this whole fiscal cliff thing, the europe thing. all of the head winds for the market are never going to see the worst case scenario. i think just kind of the picture is this muddle through going forward. i called up today and tried to -- i talked to some of the most bearish people i know. they're all just kind of saying, yeah, we're going to muddle through. the fiscal cliff is going it get resolved one way or the other. europe is going to get resolve one way or the other. i think this is one of -- >> steve, he brings up a good point. consumers are not worried about the fiscal cliff. intraday trading today shows investors are worried about the fiscal cliff. who's right? >> well,
FOX Business
Nov 27, 2012 3:00pm EST
. i have lived with ordinary income tax rates on dividends for most of my trading adult life and 0 interest rate environment, you get a company that pays 4, 5 percent even after taxes, no matter how they are taxed, you are still way ahead of the game. i think it is a lot of noise about nothing. liz: elliot, what kind of noise are you hearing down at the nymex? i mean once again we are hovering around $87 a barrel. natural gas took a bit hit yesterday, up a tiny bit today. elliot? can we hear him? we don't have his microphone. bummer. but you know what he would say? my guess is as good as yours, liz. thank you very much, guys. elliot we will get you next time. sorry about that. look at him. he's all bummed out. it happens. the hamster falls off the treadmill. thanks guys. chief investment strategist at morgan stanley, one of the most respected chief investment strategists says there are three ps that every investor needs to have on their radar. you moved some of your money out of cash and bond funds into what? >> we put money into european stocks liz and we put some money into high
CNBC
Nov 23, 2012 1:00pm EST
. i imagine once we get a deal, there will be tax hikes and sped spending cuts which could be headwinds in itself. >> the market on a short term basis has been a little oversensitive to every tactical change in the likelihood of some kind of deal before the end of the year. it does not mean to me once we get an agreement or don't get an agreement that the market is automatically therefore more vulnerable. i actually think that essentially the 5% move we've had to the up side in the last week when congress started to express a mutual intention of getting something done, that probably gets most people to the idea of, fine, we hash out some compromise that both can maybe declare victory. if not, then soon thereafter. i do think though that you see decent domestic economic numbers underpinning a lot of what's going on below the surface in the market and the headwinds to me being the open question of whether china with reaction sell rate. to me those two things should be driving the market as opposed to kind of the war gaming of the fiscal cliff talks in d.c. >> todd, is this all a
CNBC
Nov 21, 2012 4:00pm EST
, when they jump over the cliff and they fell? the taxes are going to go up. interest rates are going to go up. nobody will be able to borrow any money. you can't buy a house. you're not going to be able to do anything that you want to do that you do today. as a result, that's what the cliff means. so if the government doesn't fix this issue and come together and get sane, then the bond markets are going to do it. what's a ten-year treasury now? 1.6 or something like that? it will go to 7%. buying a house will cost 10. it will cost 13 to do other things. you just won't be able to operate. >> you think this is going to be a market disruption, if, in fact, we go over the fiscal cliff? >> absolutely. i don't think people appreciate the fact when you say cliff they think it's a movie. this is what's going to happen automatically. the depending stopping is not thoughtful. taxes going up by 600 billions is not thoughtful. it's an unthoughtful thing brought about by laws in the past. >> which is why you joined this fix the debt campaign? >> absolutely. it's insane not to concentrate on
FOX Business
Nov 28, 2012 3:00pm EST
to extend expiring tax cuts for middle-class taxpayers, but let them expire for wealthier taxpayers. take a listen. >> the place where we already have and three complete agreement right now is on middle-class taxes. as i have said before, we have two choices. if congress does nothing, every family in america will see the taxes automatically go up the beginning of next year. >> as we have been reporting all day, the president set to meet with a bunch of ceos of major corporate leaders here that will probably start wondering about 90 minutes to get underway around 4:45 here at the white house, 14 of them showing up including the ceo of yahoo, merck, coca-cola, at&t and lloyd glenn fine of goldman sachs will be here as well. liz: in the end big multinationals, to be fascinating to hear they feel positive. i want to know the business leaders think. thank you so much. as congress and the president do their very slow discussion dance on this governors are sprinting around trying to prepare for enough ability that we could go over the fiscal cliff. rhode island may be the small state in th
CNBC
Nov 28, 2012 4:00pm EST
passed two years ago and we think we're going to delve into any type of serious reform on the tax or entitlement side or even a framework by christmas. oh, yeah. i guess i'm the tooth fairy. >> bill, so what do you do here with no fiscal cliff deal yet, with whispers of possibly the fed stimulating the economy even further, and with economic data pouring in almost daily that suggests we're still sputtering along? >> well, i tend to think 2013s going to be a great year. i'm not just looking at housing and employment. i'm looking at the architectural building index. there's stuff in the draw room. they're ready to bid out this winter and break ground in the spring. the republicans know that. the democrats know that. i would agree with rick. right now it's hard to imagine they can come up with something. we know they can. we know the democrats can say, okay, we'll give you something on means testing entitlements and we'll move the social security age up. republicans will say, we'll get rid of second mortgage deductions. they can do it. i don't think they really want to do it yet. so we
CNBC
Nov 29, 2012 4:00pm EST
eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expecting recession in 2013, if, in fact, this occurs. >> think about what works well in a slow-growth economy. consumer products companies do well. high dividend payers. you'll see 100 companies that have already declared dividends this month. those are the strongest companies in the market. those are the ones that can afford to buy back shares or invest in high r.o.e. projects next year. i wouldn't avoid them just thinking dividend taxes are going up. they're the strongest in the market. you also have energy infrastructure, which is paying about 6%. most of it is a return of principle. these are companies with some of the lowest cost of capital ever. high return projects, long-term contracts. the government is in support of energy independence in this country, so we don't think the taxes change for mlps and energy infrastructure investments. finally, if you like high-yield corporate bonds, we love high-yield municipal bonds where we're getting 6% federally tax free. corpor
CNBC
Nov 26, 2012 4:00pm EST
, not only is there a tax advantage you're picking up significant yield. >> michael, what would you buy here? >> how about this, gold? let's bias sets where people will be nervous and flee to assets that give them some sense of comfort. i think gold will be a $2,000 an ounce trade sometime in the next 12 months. again, i also agree you need to buy -- you should not buy treasury. i think treasuries are a bubble waiting to burst. i like municipal bond trade. i like intermediate to short term average quality corporate bonds where you're not really paying so much for the high corporate quality rate. i think you can get better yields. as russ mentioned, absolutely, investors are going to have to have some money in fixed income. you can't set in cash at zero percent, it will kill you from an inflation point. >> i've been at cnbc since 1998. sing the piece of advice given over and over is whatever you do, don't buy the long end of the treasury curve because it's a bad investment. and yet it has been the greatest investment. at some point that's going to change, mary, right? and then what?
FOX Business
Nov 21, 2012 3:00pm EST
had a crystal ball, i would tell you, believe me. investors can get hit with higher dividend taxes. my nexttguest says don't worry. joining me now in a fox business exclusive, the chief investment strategist. lovely italian name. >> thank you. cheryl: i say this as a casone. you're not worried, you're telling your clients not to worry, but many people are worried. trying to balance their portfolio to get ready for the end of the year. what do you say to them? >> i say we may not know what happens until the end of the year. people have to take some solace seeing historically when taxes go up, what happens to the market, what happens to the dividend stocks, when taxes on dividends decrease. cheryl: we have seen it the day after the election there was a flight away from dividend paying stocks. is there a subgroup that you like that you would like to protect us? >> they're not a lot of places to hide because a lot of the return is driven by dividend paying stocks. i think the way to think about it is what happened the last time the rates went up by dividend stocks. it had been when pre
FOX Business
Nov 26, 2012 3:00pm EST
fiscal cliff. january 1st more than 600 billion dollars in both cuts and tax hikes, spending cuts kicking in and it will affect the state you live in in some way shape or form. today we're kicking off governors on the edge week on countdown to the closing bell. we are finding out how pennsylvania is affected by the budget mess. governor corbett is talking about the impact on state finances but perhaps more importantly why he is not waiting around and he and his team are trying to work on make sure they don't fall into the abyss with the rest of the country. >>> now hewlett-packard is now up 2 1/4%. we just heard through reuters we're confirming it here on fox business that a class-action lawsuit has been filed against hewlett-packard, a law firm -- we're looking at this issue with autonomy, it's a company they had to write down the acquisition by billions and billions of dollars. so clearly this is the breaking news on hewlett-packard right now. not really moving that much. still up about 28 cents. apple as you saw up sharply. analysts talking about a strong black friday for apple
FOX Business
Nov 29, 2012 3:00pm EST
have earnings growth. if we can bridge the fiscal cliff and get a comprehensive tax reform and entitlement reform, you would see a market significantly higher. tracy: we have had some earnings that look positively dismal. it is a very big pricey discretionary product, but they miss earnings, that is a real fundamental, isn't it? speak we still have the s&p profit growth that is positive. you cannot continue to have double-digit earnings growth as he diyou did for 10 consecutive quarters. if we get through this cliff in the back half of 13, gdp growth rate accelerates as we anticipate and profit growth as well. tracy: if your liking big multinationals, you don't like europe yet you like the multinationals. help me wrap my mind around that. >> u.s. large caps are cheap, most of those in mall to nationals. but they don't deserve to be cheap. it is going to be a while before you get any sustained growth. you can't make that case the multinationals. it is relatively speaking a small part. the big part of the global exposure is the emerging markets. tracy: you obviously are very bull
FOX Business
Nov 23, 2012 12:00pm EST
them nervous. what will my tax rate look like next year? what will regulation look like? what will regulation look like? do you have the same concerns? >> i have the same concerns and we have to do something. it is not an option. this is not republican or democrat problem but an american problem and israel. we don't do something about this before december, that is when you will start toosee consumers start to question leadership in washington. i don't think that is the case. i think our leadership in washington is focused -- we know who's going to be running the country and who is going to be running the house. now that that is behind us everyone can focus on reaching across the aisle and compromise and have to make progress on this fiscal cliff. i think that is important for business right now. the consumer has not focused on this but they will if we don't address it. i am confident we are going to address it in the next few weeks. cheryl: you are director of the new york fed, national retail federation, and macy's, perfect question for you. if there's one thing the administration
Search Results 0 to 17 of about 18